Morgan Stanley Broker William Ard Accused of Unsuitable Investment Recommendations
Posted on Monday, May 17th, 2021 at 4:28 pm
Erez Law is currently investigating Morgan Stanley broker William Ard (CRD# 1133673) regarding unsuitable investment recommendations. Ard has been registered with Morgan Stanley in Short Hills, New Jersey since 2009.
Ard has been the subject of two customer complaints between 2018 and 2020, according to his CRD report:
December 2020. “Claimant alleges, inter alia, unsuitability with respect to investments – 2018 – 2020.” The customer is seeking $6,500,000 in damages and the case is currently pending.
October 2018. “Claimants allege inter alia, unsuitability with respect to investments – 2017 – 2018.” The customer case is currently pending. The complaint was regarding common and preferred stocks.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Morgan Stanley may be liable for investment or other losses suffered by Ard’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.